A firm's technology may depend on which of the following factors?
A) the skill of its managers
B) the training of its workers
C) the speed and efficiency of its equipment
D) all of the above
Answer: D
You might also like to view...
The Interstate Commerce Commission regulated the trucking industry for many years in order to
a. shield the railroads from competition in trucking b. prevent economic profits from being made c. regulate the truck monopoly in the interests of the consumer d. prevent economies of scale from occurring e. punish truck drivers for unionizing
The economic sector responsible for the largest amount of hazardous waste is
a. households c. government b. industry d. institutions
Economic analysis indicates minimum wage legislation has
a. made it possible for any teenager who wants to work to earn almost 80 percent as much as an adult. b. made it easier for teenagers to find jobs that offer the opportunity for training. c. been an important source of increases in income since most workers earn at or near the minimum wage. d. reduced the on-the-job training opportunities available to teenagers.
If a firm operates in a perfectly competitive market, then it will most likely
A) advertise its product on television. B) take the price of its product as determined by the market. C) have a difficult time obtaining information about the market price. D) have an easy time keeping other firms out of the market.